Frontline (FRO) Enters $40M Equity Distribution Agreement

Frontline Ltd. (NYSE: FRO) has entered into an equity distribution agreement with Morgan Stanley & Co. LLC, ("Morgan Stanley") under which Frontline may, at any time and from time to time, offer and sell new ordinary shares having aggregate sales proceeds of up to $40.0 million through Morgan Stanley in an at-the-market offering. Frontline expects to use proceeds from this offering for general corporate purposes and to supplement its working capital requirements.

Sales of Frontline's ordinary shares, if any, will be made by means of ordinary brokers' transactions on the New York Stock Exchange, or otherwise at market prices prevailing at the time of sale, at prices related to the prevailing market prices, or at negotiated prices.

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